A new project broke ground down the street from our office in Royal Oak recently (150 West 2nd Street; south side of 11 Mile, west of Main Street), so naturally people keep asking “how much the new condos” near our office are going to cost. Unfortunately, this building will consist of entirely high-end office space and parking.
Southfield-based development firm Etkin LLC is developing the $20M building, and plans to move their headquarters there as well. According to Crain’s Detroit, 85% of the building has already been leased, with research firm Gongos Inc., investment bankers Stout Risius Ross, and an unnamed Oakland County law firm rumored to be the other main tenants.
However, if you feel living in an office or parking space is something you’d consider, act fast because they’re attracting tenants at an impressive pace.